PROJMGNT 5004 - Risk Assessment and Management

North Terrace Campus - Trimester 1 - 2024

Risk is inherent in projects of all scale. This course provides students with the knowledge required to identify, manage, and monitor project risks using ISO 31000 and principles of systems thinking. Through local and international real world examples, students will consolidate the principles of risk management as applied during the various phases of large projects, programs, and mega projects. Students will gain the ability to act on early warning signs, using a systematic methodology to ensure that they are able to maintain project control in accordance with schedule, budget, and quality. Students will also consider methods for researching, identifying, managing, and communicating project risks to equip them with the competence required to lead or participate in project risk management teams.

  • General Course Information
    Course Details
    Course Code PROJMGNT 5004
    Course Risk Assessment and Management
    Coordinating Unit Management
    Term Trimester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week in Semester; Intensive in Trimester
    Available for Study Abroad and Exchange Y
    Course Description Risk is inherent in projects of all scale. This course provides students with the knowledge required to identify, manage, and monitor project risks using ISO 31000 and principles of systems thinking. Through local and international real world examples, students will consolidate the principles of risk management as applied during the various phases of large projects, programs, and mega projects. Students will gain the ability to act on early warning signs, using a systematic methodology to ensure that they are able to maintain project control in accordance with schedule, budget, and quality. Students will also consider methods for researching, identifying, managing, and communicating project risks to equip them with the competence required to lead or participate in project risk management teams.
    Course Staff

    Course Coordinator: Dr Richa Gulati

    Program Director Contact Details: Project Management
    Name: Associate Professor Indra Gunawan
    Teaching Staff:
    Semester 2
    Paresh Kinra

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1 Identify the core types of project risks;
    2 Use qualitative and quantitative risk assessment methods;
    3 Competently use risk simulation techniques and other risk analysis tools/methods and work in a group to create a risk management plan based on the ISO 31000:2018;
    4 Identify a range of risk management issues/challenges and the risks within systems and be competent to initiate potential actions in response;
    5 Demonstrate continued learning and personal development;
    6 Recognise ethical, social and cultural issues and their importance for project managers.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)

    Attribute 1: Deep discipline knowledge and intellectual breadth

    Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.


    Attribute 2: Creative and critical thinking, and problem solving

    Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.


    Attribute 3: Teamwork and communication skills

    Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.


    Attribute 4: Professionalism and leadership readiness

    Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.


    Attribute 5: Intercultural and ethical competency

    Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.


    Attribute 8: Self-awareness and emotional intelligence

    Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.

  • Learning Resources
    Required Resources

    Recommended but not required textbooks:

    Marchetti, A.M. (2012), Enterprise Risk Management, Best Practices, Wiley.
    Bowden, A., Lane, M., and Martin, J., (2001), Triple Bottom Line Risk Management, Wiley.

    Recommended Resources
    There is a wide range of material on the course topic available. The following provides some additional reading guidance if you are interested in reading further on the topic.
    Chapman, Chris and Ward, Stephen 1997 Project Risk Management, Wiley
    Chorafas, Dimitris 2001 Managing Risk in the New Economy, New York Institute of Finance
    Clark, Kim & Wheelwright, Steven 1993 Managing new Product and Process Development, HBS
    Cooper, Robert 2001 Winning at New Products, 3rd Edition, Perseus Publishing, Cambridge Massachusetts
    Crawford, C Merle, and Di Benedetto, C Anthony 2000 New Products Management. Irwin McGraw-Hill
    Deschamps, Jean-Philippe and Nayak, P Ranganath 1995 Product Juggernauts, Arthur D Little
    Gray, Clifford & Larson, Erik 2000 Project Management, McGraw-Hill.
    Hardy, Karen 2015 Enterprise Risk Management, Wiley
    Jolly Vijay 1997 Commercialising New Technologies, Harvard Business School Press
    Louisot, J-P and Kethcam Christopher 2014 Enterprise Risk Management - Issues and case studies, Wiley
    McGrath, Michael 2001 Product Strategies for High Tech Companies, 2nd Edition, McGraw-Hill
    Pickford, James 2001 Mastering Risk, Volume 1: Concepts, Financial Times
    Smith, Preston G and Reinertsen, Donald 1995 Developing Products in Half the Time, Van Nostrand Reinhold
    Van de Ven, Andrew, Polley, Douglas, Garud, Raghu, & Venkataraman, Sankataran 1999 The Innovation Journey, Oxford UP

    Library Resources
    The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. Access to the Library's electronic resources.

    Other resources
    If you are a member of the PMI ( you will “gain exclusive access to PMI publications and our global standards*, networking options with our chapters and online communities of practice, and leadership and volunteer opportunities. You’ll also receive discounts on certification exams and renewals, as well as our professional development offerings.” Student membership is USD$40 to join and USD$30 to renew.

    * Log in to access complimentary read-only PDFs of all of PMI's published standards or take advantage of discounts on paperback editions
    Online Learning
    MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is offered in blended learning mode with the face-to-face component offered as intensives.

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).
    Learning Activities Summary
    This is a draft schedule that may be changed during the course delivery if necessary.
    session Content
    1 Introduction to Risk and why we need to Manage our Risks
    2 AS/NZS/ISO 31000:2009 – Risk Management Standard
    3 Applying the Risk Management Process
    4 Discuss Assignment 1; Examples and tools; Case Study
    5 Introduction; Presentation of Assignment 1, Project Selection (under uncertainty)
    6 Systemic Risk; Enterprise Risk; Complex Systems; Health and Safety Risk
    7 Establishing effective Risk Management
    8 Discuss Assignment 2; Discuss Assignment 3 ; Case Studies & additional examples
    Risk Management Magazine 
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary

    An overview of the course assessment appears in the following Table. Details appear in the following section:

    #Assessment TaskTask TypeLengthWeightingLearning Outcomes
    1 Risk Management Plan (20%)
    Risk Register(10%)
    Group 1000 words per person 30% 1-5
    2 Essay (Enterprise Risk Management or other topic from course) Individual 1500 wors 20% 1-4
    3 Case analysis (Health & Safety Risk or other topic from course) Individual 2,500 words 40% 1-3
    4 Class Participation Individual N/A 10% 1-6
    Total 100%
    Assessment Related Requirements
    Students should attend all classes in order to pass the course. There is considerable experiential learning during classes that build your knowledge and thus enable you to be successful in this course.

    Course results may be subject to moderation by the Assessment Review Committee.

    Appropriate use of the sources in assignments
    Avoiding plagiarism is not just referencing sources used within an assignment. It is taking the source information and critically evaluating it against other sources, your own views and original research on the matter, and how that fits the hypothesis of your assignment topic. It is plagiarism when there is little or no original content in the assignment, regardless of citing sources.

    For more information, review the resources at the University’s Writing Centre to assist in appropriate referencing and avoiding plagiarism.

    Or complete the Academic Integrity module found within any MyUni course, under the Assignment Help tab. It is important you do not breach the University’s Academic Integrity Policy as penalties will be applied to your grade.

    Plagiarism detection software Turnitin is used to check assignments. Make sure you familiarise yourself in how to review reports. Turnitin Quick Start Guides
    Assessment Detail
    Risk Management Plan and Risk Register
    Form groups of 4-5 people and complete a risk register for a project that can be a project of one of the group members or a future project. Identify at least 50 risks in the project and develop the risk register using the given standard template.
    Present your risk management approach and risk register related to the chosen project. Discuss the top 10 risks and explain why you have decided on the chosen treatments.

    Write up a Risk Management plan and comment on the identified top 10 risks of the chosen project and explain why you have decided on the chosen treatments. You may use the approach of AS/NZS/ISO 31000:2018, with the addition of Critical Success Factors, or Bowden, Lane, and Martin’s approach.

    The purpose is to research the theory and application of the topic and write an essay on it. Report your knowledge of the topic and reflect on its importance. The goal is to inform the reader about the given topic and convince your reader that your opinion is valid and defensible. you can follow the essay format to write this academic writing. It is expected to have at least ten relevant recent references following the in-text Harvard referencing style. It is essential you make use of theoretical concepts you have learned in the course and apply them to the context. You can use examples.

    Case Analysis

    The purpose is to research current trends in the theory and application of Risk Management at the systems & project levels. Review a project where risk management has gone wrong from a health & safety view. Review the consequences which have occurred in the project and comment on the effects (if any). Did the organization or enterprise have the risk appetite for the consequences? Use the learnings from the second intensive where applicable to examine how risk has been managed. Critique the techniques used in the organization against those discussed in scholarly papers. Where could things have been improved? what would you do if you were the project manager?

    Participation and engagement
    Proactively contributing to the course by offering ideas, engaging and collaborating with peers during the course.

    All text based assignments must be submitted via MyUni:

    • Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both).
    • Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet (found in MyUni, under Modules) providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work. Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
    • Backup Copy of Assignments: You are advised to keep a copy of your assignments in case the submitted copy goes missing. Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
    • Assessment extensions request: An application for Assessment Extension should be made before the due date of the assignment to the Course Lecturer. Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date. Extensions will only be granted in cases of genuine medical, compassionate or extenuating circumstances. See sections 3 and 7a) i. in particular on assessment extensions in the Modified Arrangements for Coursework Assessment (MACA) Policy.
    • Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade. Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.
    • Resubmission: of an assignment after reworking it to obtain a better mark will not normally be accepted. Approval for resubmission will only be granted on medical or compassionate grounds.
    • Appealing a mark or grade: If you are dissatisfied with your mark or grade, you may request a review or re-mark. There must be academic or procedural reasons for your request, so you can’t simply request a re-mark because you are disappointed with your result. For more information on the process see Assessment Grievance: Appealing a mark or grade
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy ( course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

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